Industry News
California Bill Requires Insurers to Offer, Renew Coverage for ‘Fire-Safe’ Homes
A new bill in California would require insurers to offer homeowners insurance to those who meet state home hardening and defensible space requirements. Senate Bill 1076, the Insurance Coverage for ...
EV Collision Claims Rise Even as Sales Falter: Report
A new report suggests that while electric vehicle sales have slowed, collision claims in the U.S. and Canada have increased, according to auto physical damage solutions provider Mitchell ...
Global InsurTech Funding Surges on Record Re/Insurance Investments: Gallagher Re
Investments in global InsurTech rose 19.5% during 2025 to $5.08 billion from $4.25 billion in FY 2024, marking the first annual increase since 2021, according to Gallagher Re's Q4 Global Insurtech ...
Munich Re Unit to Cut 1,000 Positions as AI Takes Over Jobs
Munich Re's primary insurance unit ERGO aims to cut about 1,000 positions in Germany, partly as a result of its increased use of artificial intelligence. The cuts affect simple and repetitive tasks ...
AI Claim Assistant Now Taking Auto Damage Claims Calls at Travelers
The Travelers Companies announced the launch of AI Claim Assistant, a fully agentic intelligent voice service to handle customer claim calls. The service, developed using OpenAI model capabilities ...
Pinion Insurance Launches With Up to $180M Commitment From Barings
Specialty insurance platform Pinion Insurance announced its launch yesterday. The company will offer insurance capacity for managing general agents (MGAs) across the U.S., U.K. and European markets ...
World’s Growing Civil Unrest Has an Insurance Sting
A category of insurance risk that hardly existed a little over a decade ago has morphed into a meaningful source of losses for the industry. Claims tied to SRCC — strikes, riots and civil commotion ...
AI Needs Its Own Risk Class: Lockton Re
The rapid adoption of artificial intelligence by organizations across all industries is changing the commercial risk landscape; it's time to consider making AI its own risk classification, according ...